To: Jeffrey S. Mitchell who wrote (8 ) 1/9/1998 3:02:00 AM From: Jeffrey S. Mitchell Respond to of 689
Re: Comdisco Acquires ISI Assets Business Editors, Technology Writers ROSEMONT, Ill.--(BUSINESS WIRE)--Jan. 5, 1998-- Agreement Includes Used Equipment Inventory And 33,000 Square Foot Refurbishment Facility Comdisco, Inc. (NYSE:CDO), a leading technology services company, today announced that its Electronics Group acquired the majority of the surplus equipment inventory of Integrated Solutions International, the surplus equipment management division of Integrated Solutions, Inc. (ISI). Terms of the acquisition were not disclosed. The acquisition is in alignment with ISI's strategy as a custom lithography solutions supplier and comes at an opportune time for both companies. The agreement solidifies Comdisco's position as one of the leading suppliers of refurbished electronics manufacturing equipment in the world and allows ISI to focus on providing custom lithography solutions. "ISI's International Division has been a strong presence in the used equipment business," said Steve Grundon, Comdisco Electronics Group's executive vice president, electronics market development. "Manufacturers looking for the largest selection of reconditioned equipment available should be pleased with our announcement. Comdisco's expertise in leasing, reconditioning and remarketing, coupled with ISI's International Division inventory and customer list, will enhance Comdisco's ability to provide customer savings and global equipment management services. Saving money is a benefit everyone can relate to." Additionally, Comdisco will assume responsibility for 33,000 square feet of ISI's refurbishing operation in Austin, Texas. This increases Comdisco's overall facility commitment to electronics manufacturing equipment refurbishment and sales to more than 100,000 square feet in the United States. Michael Mardesich, Comdisco Electronics Group's senior vice president, will be responsible for the integration of ISI assets and resources. "Overseeing transitions from one company to another tends to be a complex process," said Mardesich. "However, because of our experience and expertise, we believe the transition from ISI's International Division to Comdisco will be relatively trouble free." As senior vice president, Mardesich oversees several key groups within Comdisco Electronics Group including the Risk Assessment Team, the Equipment Trading Group, the Portfolio Group and the Residual Analysis Group. About Comdisco Comdisco, Inc. (NYSE:CDO), a technology services company, is one of the world's leading providers of solutions that help organizations reduce technology cost and risk. These services include asset management; business continuity; network services; and equipment leasing and remarketing. Comdisco's revenue totaled $2.8 billion for the fiscal year ended September 30, 1997. For more information, visit Comdisco's web site at comdisco.com . About Comdisco Electronics Group Comdisco Electronics Group, a division of Comdisco, Inc., assists companies with reducing the cost and risk of acquiring and managing their electronic manufacturing, test and assembly equipment. Headquartered in San Diego, its worldwide equipment management services include equipment leasing, reconditioning and remarketing; technology assessment and equipment purchases. These equipment management services are provided in cooperation with OEM alliances and third-party partners. The company operates one of the industry's largest electronics equipment reconditioning facilities, located in San Jose, Calif. About Inteated Solutions Founded in 1993, and headquartered in Austin, Texas, Integrated Solutions is an innovative engineering and flexible manufacturing company specializing in custom lithography applications. The company maintains a global installed base and has been responsible for numerous leading edge lithography products, including 193 mm steppers and magnetic levitation stages. CONTACT: Comdisco, Inc. Mary Moster, 847/518-5147 mcmoster@comdisco.com or Comdisco Electronics Group Steven Grundon, 619/550-7402 srgrundon@comdisco.com